Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

Tencent To Acquire Nexon? Time and Price Lining Up for a Final Deal?

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>Government aims to sell 30.6% NXC stake by 2027 for ₩4T tax revenue, offering NXC a buyback or selling with management control to attract bidders.</li>
<li>The family won’t buy back the 30.6% stake but may allow partial management rights, with Tencent eyeing that stake—not a full $15B Nexon buyout as Bloomberg suggested.</li>
<li>Tencent’s targeting that stake chunk only, no control shift, so no mandatory tender offer triggered—at least for now.</li>
</ul>


Government aims to sell 30.6% NXC stake by 2027 for ₩4T tax revenue, offering NXC a buyback or selling with management control to attract bidders.
The family won’t buy back the 30.6% stake but may allow partial management rights, with Tencent eyeing that stake—not a full $15B Nexon buyout as Bloomberg suggested.
Tencent’s targeting that stake chunk only, no control shift, so no mandatory tender offer triggered—at least for now.


ブルームバーグが報じたテンセントのネクソン買収の動きの背景にあるより正確な背景